John Hancock swims against the tide, doubles down on independent broker-dealer business
By picking up 883 Transamerica advisers and $25 billion in client assets, its Signator Investors B-D now has the scale to compete profitably in era of increased regulation and rising costs
Jun 23, 2016 @ 12:14 pm | By Bruce Kelly | Investment News
Unlike many insurance companies who are fleeing the high-risk, thin-margin independent broker-dealer business, John Hancock Financial Network, through its independent broker-dealer, Signator Investors Inc., has doubled down on its commitment.
Signator in May closed on its deal to acquire 883 registered reps and advisers from Transamerica. Those former Transamerica advisers have $25 billion in client assets and Signator now has close to $50 billion in assets under management, according to Brian Heapps, John Hancock Financial Network’s president.
The time (at Blue Vault's 2nd Annual Broker Dealer Educational Summit) proved extremely informative.